Industrial production in Italy declined in May, defying expectations for an increase, a report from Italy’s Statistical Institute INSEE showed Thursday.
Industrial production dropped 1.2 percent month-over-month in May, trailing economists’ estimate of 0.2 percent growth. In April, industrial output increased 0.5 percent.
Production of consumer goods declined 1.5 percent and intermediate goods output fell 1.5 percent in May. However, production of capital goods rose 1.7 percent and energy production increased 0.8 percent.
Among the industries, the manufacturing sector output dropped 1.5 percent month-on-month in May, contributing to the overall decline in production. Meanwhile, mining and quarrying output and production of electricity, gas, steam and air grew 3.8 percent and 0.3 percent, respectively.
On a year-over-year basis, production increased 1.8 percent in May, a faster rate of growth than the 1.4 percent rise in April.
Published: 2014-07-10 10:07:00 UTC+00
Italy Industrial Output Declines Unexpectedly In May
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